Butters must be ill.
I'm going to permit you the position shift you have made from "lack of solids disqualify it from being steeping" to, "the extraction is over" that you made rather smoothly. I will just say that it doesn't have to be extracted to qualify as steeping in two of the
three sources I cited.
I agree the application is imprecise, but I do think it is close. And I like the term.
Tapped out
And I agree that the application is imprecise, especially in the definitions you provided. However, in the context of the examples I provided, it is more precise and therefore, more appropriate.
What we're doing is aging. What you do when soaking tea leaves, mint leaves, herb roots, etc is steeping.
Also, most contexts of steeping including using a very hot liquid. While the maturation process we use can be sped along by placing a bottle of freshly bought/made liquid in a vessel of heated water, it's not the same as soaking the leaves, roots or herbs in a vessel of hot water. The material being steeped is in contact with and wetted by the water, while it's simply the heat provided by the water that helps the aging process.